Launching a major global initiative for attracting foreign investment in the hydrocarbon sector, India on Monday held a roadshow in London for auctioning 55 oil and gas exploration blocks.
Though the international crude prices were going up, the United Progressive Alliance government's approach was that the subsidy on petroleum products should continue as in the case of food and fertilisers.
Murli Deora, Minister for Petroleum and Natural Gas, will be leaving for Pakistan on Tuesday. India and Pakistan's relation will get unprecedented boost if talks on Turkmenistan-Afghanistan-Pakistan-India natural gas project proceeds on a fast track, said a high-level source in the Indian Ministry of Petroleum and Natural Gas. The biggest issue in realising the TAPI pipeline project is the issue of security through Afghanistan.
Despite the high oil prices, growth in energy demand will continue globally, but there is need to reorient the approach in meeting the challenge, Minister for Petroleum and Natural Gas Murli Deora said on Sunday.
Minster of Petroleum and Natural Gas Murli Deora on Monday commissioned the first stretch of the Dahej - Panvel - Dabhol pipeline from Dahej to Surat.
The proposed Rs 7,000-crore (Rs 70-billion) petrochemical complex of Gas Authority of India at Kochi has been shelved for the time being due to technical issues, according to Minister of Petroleum and Natural Gas Murli Deora.
India plans to buy more liquefied natural gas from Qatar and will expand the capacity of its Dahej LNG terminal to 10 million tonnes a year from the present five million tonnes.
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